ENDEC, INC

04 March 2013 Mr Mark Kooijman Managing Partner Liger Capital Management Dear Mark Re: Consulting Engineering Services

Unit 610, 235 Salcedo Street Legaspi Village, Makati City, Philippines 1229

Many thanks for this opportunity to present a proposal for Consulting Engineering Service to Liger Capital Management (LCM). Based on our discussions and the emails you have sent me, I feel that Endec, Inc is a good fit to provide the audit type services you are seeking. I am cognizant from our discussion that good corporate governance, compliance and cost control are all key issues for LCM. I am aware that the proposal needs to offer a strong technical solution whilst maintaining a cost of service that does not hurt the project profile. The proposal is based on a scope of work that should give you, your Board and your investors confidence that the projects are being built according to your requirements, the local building code and good engineering practices. We are looking forward to a long-term collaboration with LCM and have priced the proposal accordingly. I am attaching with this proposal an idea of the work flow and some of the documentation that Endec uses to satisfy the US government on projects we deliver under design and build contracts in the Philippines and Cambodia. Scope of Work We take our primary direction for the scope of work from your email: Nonetheless, the international investors in the fund would like an independent appraisal on how we construct our projects and especially would like a 3rd party assessment of: - Quality of construction and design - Use of materials - Project cost, expenses and budget - Time table It is as such a slightly different assignment as regular project management as we do the project management in-house but our investors want an independent audit of our in-house project management/construction activities. Therefore, what we would like you to do is a biweekly/monthly (or per milestone) audit of the progress of our different projects (construction, materials use, costs) and prepare a report which we can distribute to our investors. It will as
TeleFax: 895-7510 Email address: President@Endecinc.com Web address: www.endecinc.com

ENDEC, INC

Unit 610, 235 Salcedo Street Legaspi Village, Makati City, Philippines 1229

such be an independent status report where you report direct to our Hong Kong head office and our foreign partners. In addition to the above I understand that there exists a need for a design review. Therefore I see our scope of work being: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. Review and appraisal of project parameters Review and appraisal of Site Plan and General Layout/Perspective Review and appraisal of structural plans and calculations Review and appraisal of geotechnical data Review and appraisal of detailed designs across all disciplines (civil, electrical, mechanical, plumbing, fire protection, etc) Review and appraisal of the baseline project plan and S-Curve Management of material submission process Approval of materials based on owner specifications and selection Review and appraisal of the Quality Control Plan, including the materials testing regime Review and appraisal of the Safety Plan Ongoing Quality Assurance - audit of materials used against approvals and workmanship appraisal, review of material testing as required Ongoing Project Management assessment against the baseline project plan ensuring critical path items are managed, that delays are recovered through cost effective remediation plans or absorbed in the overall project float/contingency. Cost control bi-weekly review of costs against the S-Curve and project budget. Review of permits required to complete the project to ensure 100% compliance with local regulations Bi-weekly reporting to LCM outlining any issues encountered related to quality, time lines, budget or engineering issues during the reporting period. Audit the set to work of mechanical and electrical systems (as appropriate) to ensure compliance with the code and manufacturers requirements Review of the as built plans Conduct Preliminary project completion inspection and punch list Conduct final inspection and project close out report

To properly understand the effort required I feel we need to conduct a review of the project, but I am happy to submit here a schedule of prices by discipline of the engineering resources we would use to complete the assignment. I propose that the hours be based on actuals with a not to exceed agreement. Bi-weekly timesheets would be submitted along with the report and invoice. As a rough idea, most projects require a month to complete the review of the various plans and material submissions, by each discipline. Junior engineers can undertake the review of the materials but the structural calculations and civil design would be undertake by our principal civil engineer. Likewise a senior electrical engineer would need two weeks to properly review
TeleFax: 895-7510 Email address: President@Endecinc.com Web address: www.endecinc.com

ENDEC, INC

Unit 610, 235 Salcedo Street Legaspi Village, Makati City, Philippines 1229

and sign off on the full package of electrical plans. This would vary from project to project depending on the scope of work. I would envisage the quality assurance function would involve a site visit for a day, once a week by discipline as appropriate during the construction phase. The project management consultant would meet twice a week with your project manager to review progress, budget and any issues raised by the QA audits. I would propose there be a point of contact between the project manager and the consultant, and between you and me prior to submitting the bi-weekly reports. Schedule of Consulting Fees
Category
Civil%Engineer Civil%Engineer%D%Senior Civil%Engineer%D%Leader Electrical%Engineer Electrical%Engineer%D%Senior Mechanical%Draftsman Mechanical%Engineer Mechanical%Engineer%D%Senior Structural%Engineer%D%Junior Structural%Engineer Structural%Engineer%D%Senior Structural%Engineer%D%Leader Project%Manager% Senior%Project%Manager

Hourly,Fee,(PhP) Description
$%%%%%%%%%%%%%%% 856.29 $%%%%%%%%%%%%% 1,359.00 $%%%%%%%%%%%%% 1,861.71 $%%%%%%%%%%%%%%%%%%%%% D $%%%%%%%%%%%%%%% 856.29 $%%%%%%%%%%%%% 1,359.00 $%%%%%%%%%%%%%%%%%%%%% D $%%%%%%%%%%%%%%% 604.93 $%%%%%%%%%%%%%%% 919.13 $%%%%%%%%%%%%% 1,484.68 $%%%%%%%%%%%%%%%%%%%%% D $%%%%%%%%%%%%%%% 604.93 $%%%%%%%%%%%%%%% 981.96 $%%%%%%%%%%%%% 1,610.36 1,987.39 $%%%%%%%%%%%%%%%%%%%%% D University%Graduate%with%average%of%7%years%experience%+%Registration Registered%Engineer%with%10+%years%of%experience%in%relevant%field University%Graduate%with%15+%years%of%experience%+%Registration% University%Graduate%with%average%of%7%years%experience%+%Registration Registered%Engineer%with%10+%years%of%experience%in%relevant%field Qualified%Draftsman University%Graduate%with%average%of%7%years%experience%+%Registration Registered%Engineer%with%10+%years%of%experience%in%relevant%field University%Graduate%with%1%to%3%years%of%post%graduation%experience University%Graduate%with%average%of%7%years%experience%+%Registration Registered%Engineer%with%10+%years%of%experience%in%relevant%field University%Graduate%with%15+%years%of%experience%+%Registration%

$%%%%%%%%%%%%% 1,861.71 Registered%Engineer%with%10+%years%of%experience%in%relevant%field $%%%%%%%%%%%%% 2,867.14 Registered%Engineer%with%15+%years%of%experience%in%relevant%field

There are still many details to discuss but I hope you find this submission useful and satisfactory for your purposes. We are very keen to undertake this assignment, so if there is an issue or you prefer a different approach, please let me know via email at markargar@endecinc.com. Sincerely

Mark Argar President

TeleFax: 895-7510 Email address: President@Endecinc.com Web address: www.endecinc.com